Mutual Fund Accounting Operations Specialist (Corporate Actions)

US Bank; Tempe (AZ); On-site; USD 70,000 - 95,000; Full time

Job summary

U.S. Bank is seeking a Mutual Fund Accounting Operations Specialist to analyze and apply corporate action events for registered mutual funds and ETFs.

You will ensure accurate processing in fund accounting systems in line with procedures, regulatory requirements, and client expectations. As a subject matter expert, you will review announcements, assess portfolio impacts, and collaborate with portfolio managers, custodians, pricing vendors, and other teams to drive timely resolutions and maintain

Qualifications

• Bachelor's degree in accounting or finance or equivalent
• 1–2 years of accounting or finance experience
• Strong knowledge of fund accounting and corporate actions

Responsibilities

• Research, interpret and process all mandatory and voluntary corporate action events affecting mutual funds and ETFs.
• Validate event details from custodians, market vendors, issuers, and other external sources.
• Ensure timely processing of corporate actions within fund accounting systems.
• Investigate and resolve breaks, discrepancies, and exceptions related to corporate action activity.
• Assess portfolio impacts and communicate event details to stakeholders.

Skills

Analytical thinking

Problem solving

Excel proficiency

Communication skills

Education

Bachelor's degree in accounting or finance

Tools

Microsoft Excel

Microsoft Copilot

Job description

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.

Job Description

The Mutual Fund Accounting Operations Specialist is responsible for the research, interpretation, validation, and application of corporate action events impacting registered mutual funds and exchange-traded funds (ETFs). This role serves as a subject matter expert for corporate actions, ensuring all voluntary and mandatory events are accurately analyzed, processed, and reflected within fund accounting systems in accordance with established procedures, regulatory requirements, and client expectations.

The specialist performs comprehensive reviews of corporate action announcements from multiple sources, evaluates the impact of events on fund portfolios, and applies the appropriate accounting treatment. Responsibilities include processing events such as cash dividends, mergers, acquisitions, tender offers, rights offerings, spin-offs, stock splits, reverse splits, return of capital distributions, capital gains distributions, name changes, symbol changes, and other complex security reorganizations.

This position requires strong analytical and problem-solving skills to research discrepancies, resolve exceptions, mitigate operational risk, and ensure timely and accurate processing. The specialist collaborates with portfolio managers, custodians, pricing vendors, fund accounting teams, and other business partners to investigate issues, communicate event impacts, and drive resolution of complex corporate action scenarios.

The role is also responsible for maintaining procedural documentation, identifying process improvement opportunities, supporting audit and control requirements, and contributing to a high-quality operational environment that supports the growth and evolving needs of registered mutual fund and ETF products.

Basic Qualifications

• Bachelor's degree in accounting or finance, or equivalent work experience
• One to two years of experience in accounting or finance activities

Key Responsibilities

• Research, interpret, and process all mandatory and voluntary corporate action events affecting mutual funds and ETFs.
• Analyze announcements and supporting documentation to determine the appropriate accounting and operational treatment.
• Validate event details received from custodians, market vendors, issuers, and other external sources.
• Ensure timely and accurate processing of corporate actions within fund accounting systems.
• Investigate and resolve breaks, discrepancies, and exceptions related to corporate action activity.
• Assess portfolio impacts and communicate event details and operational implications to stakeholders.
• Partner with internal and external parties to resolve complex corporate action issues and inquiries.
• Maintain strong controls and documentation to support audit, compliance, and risk management requirements.
• Identify opportunities to improve processes, increase efficiency, and reduce operational risk.
• Support training efforts and contribute corporate action expertise to the broader organization.

Ideal Candidate Qualifications

• Experience in fund accounting, custody operations, securities operations, or corporate actions.
• Strong understanding of registered mutual funds, ETFs, and financial instruments.
• Knowledge of mandatory and voluntary corporate action event types and associated accounting impacts.
• Strong proficiency in Microsoft Office applications, particularly Excel, including data analysis, reconciliation, and reporting functions. Experience utilizing Microsoft Copilot and other technology solutions to improve research capabilities, operational effectiveness, and process efficiency is preferred.
• Demonstrated analytical, research, and problem-solving skills.
• Ability to manage multiple priorities in a deadline-driven environment.
• Strong communication and collaboration skills.
• High attention to detail and commitment to operational excellence.

If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants .

Benefits

Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-